SHOP up big despite COVID headwinds

So SHOP was up another 11% this morning (up 8% currently) despite being heavily involved with SMBs that people were saying would be disastrous to SHOP because of all the businesses that have been shut down during this COVID event. The jump today is because of comments from their CTO:

https://finance.yahoo.com/news/shopify-surges-cto-touts-blac…

He states the following:

As we help thousands of businesses to move online, our platform is now handling Black Friday level traffic every day!

It won’t be long before traffic has doubled or more.

The article also states the following:

During the course of its current seven-day winning streak the stock has gained 50%.

While the traffic surge doesn’t necessarily translate into an equivalent amount of revenue, it’s a positive sign for the business.

Crazy times!

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During the recent Bessemer Venture Partners webcast with SHOP, PINS, and TWLO, I was impressed with Tobi’s comments about the work they were doing to implement ‘curbside pickup’ for their customers.

To me, this speaks volumes to how responsive a company like Shopify can be. It’s a completely different fulfillment model for Retail.

https://www.shopify.com/blog/buy-online-pickup-curbside

And it also speaks to the power of the cloud. Write the code once and it’s available for all customers.

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